Amidst continued damage to the Jamaican economy by the pandemic, businesses are set to receive a boost from the Development Bank of Jamaica, (DBJ). The DBJ has created an online server creating an opportunity for businesses to be rebound.
Speaking at the launch of the new online platform on Wednesday, Finance Minister Dr. Nigel Clarke says though the pandemic has crippled the economy, it is crucial businesses stay alive.
Micro Small and Medium sized Enterprises will benefit from a new online serve program strategically designed to bolster Jamaica’s economic recovery amid the COVID-19 pandemic. Speaking at the recent program launch, Managing Director of the Development Bank of Jamaica, Milverton Reynolds says this new and improved digital platform will catapult businesses into full recovery.
Mr. Reynolds notes the COVID-19 pandemic has forced businesses to adapt to the virtual world as this has changed the business landscape. He’s also calling on major stakeholders in the business sector to come on board.
The features that are provided on the server are the DBJ go digital loan and the DBJ MSME loan. The go digital voucher offers a maximum grant of 300,000 dollars inclusive of GCT, however, this grant is only eligible to MSME’s with revenues not exceeding 75 million dollars per annum.
This grant is also available to general business services which include accounting, electronic payroll systems, human resource applications, CRM softwares, electronic marketing, and business productivity tools such as video conferencing and electronic records management. In the meantime, Finance Minister Dr. Nigel Clarke says business must continue amid COVID-19.
More in this CVM Live story from Javine Mclean: